Cards

NCR Corp. this afternoon reported a fourth quarter profit of $38 million after asuming a $57 million loss a year earlier.

MasterCard Worldwide CEO Ajay Banga expressed concern about the effects of the Federal Reserve Board’s proposed debit-interchange rules, but he also sketched out various scenarios in which MasterCard may benefit during an analyst conference call to discuss fourth-quarter earnings.

Continuing its expansion into newer payments-related territory, Visa Inc. intends to focus on increasing its presence in mobile payments, online commerce and funds transfers, Joseph W. Saunders told analysts during a conference call to discuss fiscal first-quarter earnings.

A test of an open transit payment card along a 14-mile commuter rail line near Philadelphia also will gauge the effectiveness of post-paying for transit rides.

Visa Inc. is expanding its relationship with MoneyGram International Inc. to grab a bigger piece of the remittance market.

Sports-graphics retailer Fathead LLC will use ModaSolutions Corp.’s online eBillme service as an option at checkout, the alternative payment provider announced Feb. 3.

Visa Europe and Monitise PLC have formed a partnership to develop mobile-payment services for Visa’s member financial institutions within Europe, the companies announced Feb. 3.

MasterCard Inc. this morning reported fourth quarter net income of $415 million, up 41.6% from $294 million during the same period the previous year. Net revenues rose 10.8%, to $1.44 billion from $1.3 billion, driven by an 18.7% increase in cross-border volumes and other factors, MasterCard said in its Feb. 3 earnings release.

Payments processor ProPay Inc. is testing a mobile application that enables consumers to pay brick-and-mortar merchants using their smartphones instead of handing over a card.

Most consumers in the United Kingdom have fraud concerns when using their credit or debit card to make purchases over the phone, new research released Jan. 28 suggests.

Commuters on the 14-mile-long rail line connecting Lindenwood, N.J., and Philadelphia would be able to use any contactless-payment card to access trains following a pilot Cubic Corp. announced Feb. 2.

Citing continued growth in international volume and processed transactions globally, Visa Inc. on Feb. 2 reported fiscal first quarter increases in Visa card spending both domestically and internationally.

Despite their exemption from the Federal Reserve Board’s proposed cap on debit card fees, small banks and credit unions are hesitant to spend big money on payments technology until more details are available, according to vendor Jack Henry & Associates Inc.

First Data Corp. plans to support the Federal Reserve Board’s proposed new debit interchange rules with a two-tiered pricing structure for debit-interchange rates on its Star PIN-debit network and expects slow but steady revenue growth ahead, company executives told analysts Feb. 2.

Payments processing giant First Data reported this morning that debt service incurred from its huge 2007 takeover by Kohlberg Kravis Roberts & Co. continues to create big losses–$1.02 billion for 2010–even as lucrative fees earned from debit interchange are helping stem the red ink.

Unlike some of their peers, Wells Fargo & Co., U.S. Bancorp and PNC Financial Services Group Inc. don't have to devote a hearty portion of their investor presentations these days to discussing mortgage repurchase requests.

In the mobile banking business, a one-size-fits-all approach just doesn't cut it, as Firethorn Holdings LLC found out.

A boost in payments processing and demand for technology outsourcing from banks helped Jack Henry & Associates Inc. raise its fiscal second-quarter revenue by 15% from a year earlier to $242.6 million.

Consumers between the ages of 18 and 34 are driving up debit card use to control spending, though older Baby Boomers continue to rely on credit cards for most purchases, new research suggests.

SafetyPay Inc. will provide JetPay LLC with a worldwide payment platform that provides additional value and access to a suite of alternative payment options, Coy Lynch, JetPay vice president, noted in Feb. 1 press release announcing the companies’ partnership.